Dropbox cuts workforce and announces departure of CTO Ali Dasdan
Dropbox is trimming its workforce and facing severance and cash charges between $27 million and $33 million, while Chief Technology Officer Ali Dasdan prepares to step down on Nov. 18.
File hosting company Dropbox announced a workforce reduction alongside an executive departure, according to reports from Reuters and market updates. The cuts are anticipated to incur between $27 million and $33 million in severance and related cash costs.[1][3][4][5]
While multiple market dispatches and company commentary indicated a reduction of about 9% of its global workforce to align investments, Reuters initially reported the company plans to eliminate approximately 200 jobs, representing around 6% of its staff.[1][2][3][4][5]
Alongside the restructuring, Chief Technology Officer Ali Dasdan is scheduled to step down on Nov. 18. Ahead of its full third-quarter earnings release on Nov. 5, Dropbox stated that it expects Q3 revenue and non-GAAP operating margin to meet or exceed its previous guidance.[2][3][4][5]
Key facts
- Dropbox announced it is reducing its global workforce, with reports citing cuts of about 9%, while Reuters also cited around 6% or approximately 200 positions.
- The workforce reductions are expected to cost between $27 million and $33 million in severance and cash expenses.
- Chief Technology Officer Ali Dasdan will leave his position on Nov. 18.
- Dropbox expects its third-quarter revenue and non-GAAP operating margin to be in line with or above prior guidance.
- Full third-quarter financial results are scheduled to be reported on Nov. 5.
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Polymarket@PolymarketPost on X ·
JUST IN: Dropbox cuts 9% of its workforce & announces the departure of its Chief Technology Officer.
Open source - TE
TechmemeArticle ·
Dropbox plans to cut ~6% of its staff, or ~200 jobs, costing $27M to $33M in severance and related costs, and says CTO Ali Dasdan will step down on November 18 (Anhata Rooprai/Reuters) Anhata Rooprai / Reuters : Dropbox plans to cut ~6% of its staff, or ~200 jobs, costing $27M to $33M in severance and related costs, and says CTO Ali Dasdan will step down on November 18 — File hosting service Dropbox (DBX.O) said on Wednesday it would cut its global workforce by about 9% to align investments …
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Techmeme@TechmemePost on X ·
Dropbox plans to cut ~6% of its staff, or ~200 jobs, costing $27M to $33M in severance and related costs, and says CTO Ali Dasdan will step down on November 18 (@anhata_rooprai / Reuters) (Visit Techmeme dot com for the link and full context!)
Open source - WS
Wall St Engine@wallstenginePost on X ·
Dropbox $DBX is cutting about 9% of its global workforce, with $27M to $33M in expected cash costs. CTO Ali Dasdan will step down on Nov. 18. The company expects Q3 revenue and non-GAAP operating margin to be in line with or above prior guidance. Full results are due Nov. 5.
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